Bitcoin headed for its biggest weekly jump since June as rising geopolitical risks boosted demand for alternative assets.

The cryptocurrency surged 15 percent this week to $900.40 as of 2:38 p.m. in Hong Kong, taking its gain this year to 107 percent, data compiled by Bloomberg show. The last time it was at such levels was in January 2014, when bitcoin was tumbling from its record price of $1,137 following the implosion of the MtGox exchange and tightening Chinese controls.

In a disclosure to the Philippine Stock Exchange on Friday, April 7, IMI announced that it had signed an agreement to purchase – subject to closing conditions – 80% of the ordinary shares of STI Enterprises Limited (STI), a UK-based electronics manufacturing services company.

A private firm, STI designs and manufactures electric components primarily for the aerospace, defense, and energy industries although its components are also used in the automotive and telecom industries.

The stock has soared 46% so far this year, and has caused billions of dollars of losses for those who have bet against it.

The damage inflicted on short sellers has been especially pleasing to Tesla CEO Elon Musk, who earlier this month tweeted, "Stormy weather in Shortville ..." on a particularly bad day for Tesla shorts.

The short trade in Tesla was supposed to be a slam dunk.

The company delivered 76,230 vehicles in 2016, well below the 80,000 to 90,000 that Wall Street was expecting.

"Our Q4 delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct," the company said in a statement at the time of the release in an effort to deflect criticism surrounding the shortfall.

It’s official. Facebook Inc. just had the biggest stock-market wipeout in American history. Shares tumbled 19 percent on Thursday to close at $176.26 after sales and user growth disappointed investors. The drop translates to a $119.4 billion decline in market capitalization, the largest-ever loss of value in one day for a U.S. traded company.